stuart: all right, strong stuff there from a former new york mayor rudy guiliani. back in 2001, give him credit. that was when marc rich was pardoned. we're joined by the man i am self. you can hear him laughing there. rudy guiliani, your honor, welcome back. >> that was right when the giants lost the super bowl to the baltimore mavens, i was pretty upset about that. stuart: your feelings haven't changed? >> no, the whole thing is an outrage, there's no justification for that pardon and that's a disgrace and a scandal that should have been pursued more. it was a midnight pardon done either the day or the night that bill clinton was leaving office. i found about it at george bush's inauguration. the man was under investigation for massive fraud. he ran away, took all of his records. >> became a fugitive. for years he attempted all kinds of influence with government officials and others to try to get back without paying his

price, without going to trial and rejected by the justice democrats, republican and democrat and all of a sudden gets a pardon. he had to do something big to get that pardon. i haven't figured out what it is. that pardon was on eric holder and-- >> i used to be in the attorney general. there's a process, you go to the u.s. attorney prosecuting the case, me. and you go to mary-jo white on the case and you investigate how the person straightened them out. none of them did that. mary- mary-jo white opposed it, i opposed it and-- >> and he never was brought to justice. he got a pardon without ever being indicted-- he was indicted new never brought to trial. stuart: you seem determined not

to criticize eric holder. >> eric holder organized the whole thing and he did the end run. he got it around, i think, even, pretty sure even the attorney general janet reno, i don't think that she had approved of at that pardon. he did it end run, not supposed to do, not supposed to have direct contacts like that, they should all be registered and on the record and the whole thing that was just covered up in terms of trying to figure out how it happened, why it happened. what was offered for this? what big thing was offered to do something that really could tarnish, and i think should tarnish to some extent, president clinton's legacy. >> how about edward snowden? let's move on to another character in the news today. we do not know where he is, we absolutely do not know where he is at the moment and i have a feeling that maybe we're being laughed at. >> you don't have to wonder about that. you don't think that putin is laughing at us. you don't think that-- i thought putin was laughing at us when he met with obama a week ago, a week and a half ago.

here we, we give up the nuclear defense of part of eastern europe way back when obama gets into office to reset our relationship with russia. we pay for the house and we don't get the deeds and since then we've reset our relationship with russia, it's much worse. stuart: you are a harsh critic? >> aren't i correct? it's much, much worse relationship. we've got them completely doing what is really interested in the middle east and syria and can't seem to influence them on snowden. this is a simple situation, this guy is suspected of and now charged with a felony and should be returned to the united states, doesn't have a passport. doesn't have a person passport. stuart: we can't find the guy. what does that say about us? we don't know where he is. i'm not just talking the media. >> maybe we can't find them. do you think that putin has lost them? putin use today run the kgb. obama was a community organizer?

who is going to do is better job of finding him. a community organizer or former kgb? you can be upset with putin aen concerns with maybe people he's killed, but this guy is a very, very cagey operator. do you think they're not getting everything they can out of snowden? >> i've got to ask you about interest rates. you know, you follow this stuff. interest rates are rising, they have gone up significantly, recently. i would think that that puts municipal finance in a lot of of trouble. >> municipal finance is in a lot of trouble ap this will just add to what is already a disaster looming ahead, health care, the cost of health care, most municipality, i'll take new york because i know it the best, have purchased health insurance for all retired employees. all of a sudden, you have even an increase of 4, 5, 6 pre% in health care, all of that's

current finances, that's a disaster blooming. in new york there haven't been union contracts in two or three years and add the cost of interest rates and borrowing goes up ast nom icallically, an- >> and here, there is a game plan how to solve that, i did it in new york, ed rendell, the democratic mayor of philadelphia. you've got to cut, you've got to cut spending dramatically. stuart: i've got to cut you off. i can't believe i'm doing it, your honor. >> have a good weekend. stuart: watch out be, everybody, we're coming up with the opening bell on wall street and looks like we'll be back to 15,000. back in a moment. everybody has different investment objectives,

ideas, goals, appetite for risk. you can't say 'one size fits all'. it doesn't. that's crazy.

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stop printing money, so it goes up? >> it really is economic dependent. how the numbers come out, how the house numbers continue. we have been in a situation before his bad news is good news and good news is bad news. bad news will make the fed go the other way. stuart: one of these days i will bring out interesting and different story about the market. but not today. the economy relatively weak. he may not stop printing, so up goes the dow industrial average. in the opening seconds we are up 44 points. if you look at the features, we were supposed to go up maybe 90, 100 points on the opening bell, that would take us back to 1500. how about that. watch that lord turned green.

every one of the 30 dow stocks are green, that means they are all up. we are back on 15,000 watch. to nicole, giving the two big winners on the dow to start us off. nicole: we have mark in the financials, jpmorgan, microsoft is doing very well. these names are microsoft as jpmorgan are gaining nearly 1% each but we have had some run. in about a month we had a 1000-point swing. down to 14,500. now we are on our way back up. so like a pendulum. stuart: pendulum, roller coaster, call it what you will. i have two more big names for everyone, general motors. remember, you bailed them out, still $20 billion in the hole on them and now they're spending to expand operations in mexico.

this may be a positive for the stock. gm wants to make money, it is going to cheaper labor, less restrictive work rules. still a long ways from taxpayers breakeven. we're now up 89 points, there we go, got it, right on cue, 15,000 dow jones industrial average. who would have thought eight days ago he hinted he would be laying off the printing presses a little bit. all the way down, a drop of seven, 800 points at one time, now back to 15,000. apple is innovating. it may just be following the fingerprint scanner can be embedded within products included in the upcoming iphone 5s bid you scanner thumbprint instead of using a password. down 25% this year.

now, gold taking a big hit. come on in with the virtue of selfish investing. you follow the gold market, i know you do, so at what price would you be a buyer of gold? >> i'm looking at support down at 1000. the problem with gold, lost one of the major demands with asia, the chinese central bank's may be unloading some of their gold reserves in response to the banking crisis we saw come to a head over the weekend when you saw it fall off 3.5%. they may be raising liquidity by selling the gold reserves as well, putting pressure on gold. not much demand coming in, i

will be looking to be a buyer in that area. stuart: we appreciate that. show me the big board again because this is an explosive open to the day. we gained 250 points in the last two days, up 108 now. 15,018. this is exciting stuff on a thursday morning. yahoo chief melissa meyer auctioning off lunch with her for charity. the stock is at 2475, up 1.8%. mccall, on in. if you had lunch with melissa meyer, what would you ask her? nicole: i would ask her about her technology background and her patents going ffrward. she really shuns all of the talk of babies. come to work, don't work from home, sheeplays serious hardball. or maybe what would she ask ben bernanke or president obama?

stuart: i am not going finance your bid to have lunch with melissa meyer, but those are troubling questions. fireworks on capitol hill at yesterday's irs hearing. another irs official took the stand, his alleged role in awarding $500 million contract to a friend of his, software company run by his friend. to make matters worse, even worse, the software company's chief took advantage of a program aimed at helping disabled veterans. he falsely claimed he was entering combat, twisted his ankle in a football game. an iraq war veteran, double amputee. listen to this. >> i'm so glad you be willing to play football and prep school again to protect this great country. shame on you, you may not have broken any laws, we are not sure

yet, you did misrepresent, but you certainly broke the trust of this great nation. stuart: well said. there will be more drama today. irs acting commissioner prepares to testify. he is going before the house ways and means committee. will he really ask for another billion dollars to clean up the mess at the irs? what type of questions will be asked when he testifies today? let's go to the congress men, member of the house ways and means committee. the man who was the star of two previous irs hearings. what are you going to ask him, sir? >> this is the new commissioners big moment. supposed to pull back the curtain on the irs, to the american public exactly what happened and who is being held responsible. looking through a report released yesterday and the day before. we don't learn much new from him.

who leaked the information, who concealed this for two years and who is being held accountable. so we're going to focus on those basic questions, and we are going to grill him on the spending abuse in the irs and the point you made, it is outrageous. they are asking for another early an in dollars to continue these abuses. stuart: do you think he's going to go in front of your committee today and ask for another billion, does he have the nerve to do this? >> you can't make up most of the stuff we're finding out about the irs these days. this is the first time that an irs official or any official did not submit written testimony. he is not going to make a statement that we know of, his simply there to answer questions on a very unsubstantial report, so i don't know what he has up his sleeve but he is going to get a grilling because we are

not getting the truth. stuart: you are a gentleman and i don't think you like pressing hard with the tough, skewering questions. are you going to do that today? >> yes, i am. we live in texas, my wife and kids, our neighbors, people we see in the grocery store, my son space bar practice are just outraged by this, they want answers, they want them now as a matter of fact because they worry they will be targeted next. we're going to ask tough questions but we deserve to know the truth. stuart: i want to relate and news item to our audience, get your comment on it. the latest fox news poll on obamacare. 66% of those surveyed are worried about the future of the health care system under obamacare. a record number of people, 58% in favor of repealing some or all of the health care law.

congressman brady, those are remarkable negative numbers on obamacare. you can't do anything about obamacare, you cannot repeal it, not in this congress or in the next one. >> it is tough. the constitution works against this one. i'm surprised the numbers are that low. in my district i think it is nearly 100%. nobody in congress had read it when it was passed, now the american public is seeing it being rolled out, they don't like it, they're fearful of it because no one in america is getting that 2500 sellers cut the present promise. every state that has unleashed numbers, huge increases so the consequences of this bill are now for the first time being known. stuart: thank you for joining us, i know we will be following you at the top of the hour as you appear on that committee

grilling the irs. this is another valley, this is exciting stuff, 117 points now. while over 15,000, who would have thought. a week ago, who would have thought. the supreme court historic ruling on same-sex marriage. this is a huge financial story, could it even and by reducing the country's deficit? find out at the top of the hour, we are covering it. will drinking to energy drinks per day kill you? for one month of the answer is yes, she is doing. the dow up nearly 120. clients are always learning more

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stuart: what is the top winner on the dow went and i was up 120? the answer is bowling. right now bowling is up when a half percentage points. 102 on boeing. 1.3% gain, best winner all day. all right, and we have monster energy drink being linked in a lawsuit to another death. this time a 19-year-old boy who allegedly drank two cans per day of monster beverage. for three years. went into cardiac arrest and died. now his mother is suing monster

beverage claiming her son would still be alive today if he did not drink those energy drinks. dr. marc siegel is here. we will get to the moral issue and the legal issue in just a moment but would you make a statement that monster energy drinks pose a danger to the public? >> won't say caused the death in his child's case because that is a cause and effect, we don't know. but i will say i am concerned mod of caffeine the energy trends have not just monster, rockstar as well, five hour energy, several different ones, red bull, they all have a lot of energy. you will say coffee had a lot of energy. i love coffee. but i maintain that people are aware that coffee has caffeine but you almost feel the boost when you are getting it and i am worried about the energy drinks which have a lot of sugar that make you dehydrated and the caffeine gets harder.

if you had an underlining heart that could put you at risk. i worry about the lack of awareness of the caffeine. stuart: do you know the equivalent how many cups of coffee in a monster energy drink? >> i know the answer to that. a cup of coffee has 100 milligrams of coffee, a little bit less depending if it is starbucks or whatever. monster energy 16-ounce has 184. two of those is 360. that is more caffeine in a monster and a cup of coffee but telling me they both have a lot, they both have a lot. stuart: what are you going to do, regulated? >> it is hard to say that because the fda does not regulate beverages. it stops those that are shown to pose a danger. thousands of people go to the er every year having caffeine

intake. those who have undms and they d, they go out on the field, 100 degrees, you guzzle a couple of drinks, it can make it more and more problematic. stuart: coffee has been used for 500 years to my knowledge, probably much longer than that. we know this, don't we? doesn't everybody know this? >> i don't like the commish of sugar and caffeine. stuart: don't drink it. >> i will tell you, i don't think they will win the lawsuit because i don't think they can prove it. stuart: isn't there a moral point to be made here. take care of yourself. everybody knows what coffee does do you. why we need the government to come in and worn you or put a warning label on the drink?

we all know that. >> i agree on the personal responsibility thing. parents should be warned about this beverage. it starts at the home, that is right. stuart: doctor, we do hear you. thank you. >> the fda is not too effective on these things. stuart: doctor, good to see you. general motors still owes the taxpayer $20 billion from the bailout but that is not stopping gm spending big and opening a new plant in mexico. my take on that is next. we went out and asked people a simple question:

how old is the oldest person you've known? we gave people a sticker and had them show us. we learned a lot of us have known someone

who's lived well into their 90s. and that's a great thing. but even though we're living longer, one thing that hasn't changed much is the official retirement age. ♪ the question is how do you make sure you have the money you need to enjoy all of these years. ♪

stuart: look at this, look at this, the share prices up big. there are rumors of a takeover. charles has more on that next hour. and nancy pelosi, booed by democrats because of her position with snowden? is the far left taking over the democratic party? how did the media come across a climate change speech? a bunch of he's going to save

the world headlines. and ambassador john bolton is here. is our standing in the world now lower than when president bush was in office? all of that new at 10:00. general motors will spend $690 million expanding production in mexico. here is my take on that. taxpayers will not be happy. we are still owed $20 billion from the gm bailout. the uaw doesn't like to see manufacturing jobs exported south of the border. but look at this from gm's point of view. they want to slip the government lease. they don't like being government motors. management by politicians holds them back. they want to make money, they want to be more efficient if they expand at home they had to deal with the work rules and pay scales imposed by the fossilized bureaucracy. head cells, go to mexico and gm

gets a degree of freedom they can't get at home. of course there is a third option, expand in a right-to-work state like japanese and german carmakers, but hold on a second, can you see this president allowing government motors is bailed out automaker fleeing the union base? highly unlikely. would rather see jobs go to mexico then north carolina. so for years at the bailout that has come to this. we taxpayers are still in the hall, gm is exporting jobs, management eager to get out from under the politicians, maybe we will think twice before government gets into the car business again.

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with lifelock. [click click, ♪...] stuart: welcome to the second hour. question, is the media still in love with the president, still protecting him from scandal fallout? yes, and he is here. gay couples you access to federal benefits. is that a gain or loss to the treasury? we have numbers for you. the energy question of the day, will california drill? we have someone who knows the answer. and describe the irs, despite climate change, can he make us laugh? the second hour.

♪ another big rally free market and another headline for you. breaking news from the fed, peter barnes reading the tea leaves from one of the fed presidents. what is he saying, peter? >> the fed chairman out this morning with some dovish comments on slowing, tapering the quantitative easing on purchases. repeating ben bernanke's comments from last week the tapering could begin later this year, but he adds the policy depends on the progress we make toward objectives, this means a policy including the pace of asset purchases depends on the outlook rather than the calendar. if labor market conditions and the economy growth momentum were to be left less favorable in this had happened in recent years, i would expect there to

continue a higher pace for longer. the first of three fed speakers and we will be covering this all day. stuart: what it appears to me to mean is maybe economic conditions do not merit a slowing of the printing presses. that is my initial reading. and yours? >> i think you are spot on. stuart: look at the big board, this news just coming out seconds ago. not much change as the news was released. charles is with us, your thoughts on what you heard from the fed. charles: they key is they will make decisions no space on a certain timeframe, that was the argument, the real confusion for ben bernanke has seemed the fed was fixated with a certain timeline. let's look at the economy, take the economic report by economic

report. whether you are bullish or bearish this notion somehow it has simply been too long and time to make a change because the calendar will change. stuart: we just got a 30-year fixed-rate mortgage reading in from freddie mac. 4.46%. by my reckoning that is up about a half point in about a week or so. 4.46%, mortgage rates straight up. more news on the housing industry, pending home sales up 6.7% reaching the highest level in six years. how about that. spike in mortgage rates, big jump in pending home sales. response on the market still up 131 points. the main point is that is a rally. of 131 points, okay? love it, read it, enjoy it while you can.

we are also watching this new this hour. acting irs commissioner is about to testify before the house ways and means committee. is danny really going to ask congress for another billion dollars to clean up the irs? where monitoring what is going on waiting for any fireworks. we will bring them to you as and when they happen. the rally in tesla stock continues. takeover rumor and, so first of all let's get the stock vote from you. nicole: check it out. how about $110? 109.33. a gain of 3.5% being pushed along by takeover rumor talks, that is just a rumor, right? i am not reading any potential suitors right now. the other piece of information yesterday, talking with his

projections for the company and sales going forward in the next three to four years, so he gave positive projections. stuart: 109, 110 on tesla. charles: earlier this week started to bubble up maybe they can be a takeover. all the automobile manufacturers they want an electric car that works. just their technology alone hard to value what it would be worth. what they have done from a technology point of view, it has been amazing. somebody might be willing to overspend, if you will, to own this company now that they paid off their government to debt. this is a very attractive play. major technical breakdown. stuart: let me wrap up where we are, a lot going on with your money. dow jones average up 121 points, pretty stable up 140 over the last few minutes.

news from the fed, fed official is say look at the economic performance of america. if you look at that performance than you can decide whether or not the fed is going to ease up on the printing presses. we are interpreting that as a dovish comment as if he may continue to print longer than some people thought maybe a week ago. the stock market rally, dubya's comments on the fed, two items of importance from the housing market. first of all and incredible jump in interest rates, 30-year fixed-rate 30-year loan up to 4.46%. it went straight up, and i think that may be the news item which has affected the stock market because we are up 114 points, maybe that is what is pulling the market down just a fraction from the highs of the day. pending home sales up 6.7% in the latest reading and not the

highest levels in six years. go figure this one out, that is what investors are doing and the dow gaining 115. let's move away from the market for one brief shining moment. welcome back. i want an update on how the media is covering three big first of all, the irs, are they still ignoring it? >> yes. think about this in the last week we had revelations of more credit card fraud, and one it officer at the irs steered a contract to a friend of his worth potentially $500 million then when he was asked to testify about this in the congress, he took the fifth. that doesn't scream a scandal taking place, i don't know what does.

nothing on the news at night, to mentions on "good morning america." nbc, one story all week, cbs five stories. five stories is a million times more than abc but five stories isn't a lot either. the fact of the matter is they simply do not want to cover this as the scandal it is. stuart: next one, climate change. how did the media cover that speech? i would imagine from all you told us before, a lot of he is going to save the planet stories. what happened? we lost him. that is a terrible moment to lose him just like that, i think the audio was cut off for some reason. what was the media's response to the fate of the planet speech? plenty of those he is going to

save the planet stories. back in a second. now i have this, supreme court striking down the defensive marriage act and with it a possible chunk of the federal deficit, so we hear. elizabeth macdonald joins us now. this is what we are told, striking down doma will help cut the deficit. liz: this is a classic conservative issue. the financial affairs and their personal lives, kat gay couplese treated like secon second-classr the tax code. they would lose medicaid drug benefits. those programs are means tested. they would lose student loans tax credits, they would lose things like food stamps and if they file jointly they would have to pay higher taxes because the combined income would bump

them up into the higher tax bracket and would shave their deductions as well. stuart: cbo numbers, gay marriage lowers the deficit. what about social security survivor benefits? gay marriage recognized, one of the partner dies, under this new ruling reasonably social security survivor benefits are paid to the surviving spouse, that is accurate? speaker that is accurate. they would pay $350 million more per year to gay couples, it is offset by the cuts to the deficit from those means tested programs the government gives out, so they are founding a nominal impact. $1 billion more to the federal bottom line. stuart: currently if you live together not legally married, one a few dies, you pay estate

taxes when that person dies on their estate, if they're married his ghostly surviving spouse tax-free, so i would imagine the treasury loses some revenue from gay marriage and estate tax. liz: this is a classic conservative issue because the lady who filed this, her spouse died of multiple sclerosis. she inherited her states but had to pay the death tax. she paid more than $336,000 on that estate, that is the crux of the supreme court case. now will gay couples be exempt? that is what is at issue from the death tax. charles: should be from the federal death tax, estate taxes wilwould be state by state. it is a done deal. liz: what if there was a sudden upsurge in heterosexual

marriages? you can argue more social security benefits would have to be -- stuart: they balance it all out. $1 billion annually each year. those are the numbers. guess what, back with us, the connection has been restored, we are pleased to say. i was in the middle of asking you what is the media's reaction to the climate change speech. go. >> an interesting one. "the york times" reported all this talk of climate change, it is called global warming. climate change is their term, global warming. the talk that the warming has been dramatically reduced in the last 15 years, they call it a loan. how many stories you think, in '92 network news stories, how many times do you think they

brought up the fact we are in a low in global warming? stuart: i'm going to say none of them did. >> you know the answer, it is none, none of them reported it. the narrative is we are all dying and the ministration has to do something to save us. how my stories were there on the fact he's going to circumvent congress to get to the epa? one. credit to him, it is only one. if george bush were circumventing the congress to do things he wanted to do, what do you think would be the media reaction? stuart: he is bypassing congress, but you knew the answer. edward snowden, go. what is the media's response? >> they are in trade a little bit. they really don't know what is going on. but they are not really drilling

down to find out, if he went to hong kong with a chinese and then goes to russia, what do you suppose the chinese and the russians are doing? everybody knows they are downloading all of our secrets, what are the ramifications of that? the media has a lot more serious investigating that because the damage is huge. stuart: we always thank you for coming on and telling us what is going on. thank you, sir. and then we have the star of "red eye" on the fox news channel. after the break we will get his reaction to the big three stories of the day, the irs, snowden, next. >> the kind of joke we hope it u won't be hearing during tonight's show.

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stuart: look at this, high-end, hig,high def. wafer thin. this is a curved display. here's the kicker, samsung says it will sell for $13,000. charles leavitt or not has a stock play on the technology. charles: universal panel, just changed their symbol to oled. they have pioneered the space. the stock has been down though. a lot of legal stuff going on. the tv world knew about this television. the price will go down even though you will probably order a couple today. it has a lot of upside potential. stuart: oled. got it. no shortage of scandals this week from the controversy of the irs, vladimir putin flexing his

muscles in defiance when it comes to snowden. almost comical. welcome, andy. welcome to "varney & company." i have been on once. i find it difficult to do television at 9:30 at night we is anything humorous about the irs? >> not really. everything that is happening with the irs can basically be traced back to big government. the bigger the government, the bigger the bureaucracy and the more fraud there will be an people doing things they are not supposed to be doing. you have all of these people, think it was david axelrod who said you can't blame president obama for this. the federal government is too big for one man to look at. that is why you have credit card fraud that came out where they were using the money, but when

you look at that, inspector general said there were improprieties in only two tenths of 1% of transactions so it is not even that much. it goes your way because they are using the taxpayer money to do this, but they are so big you can say it is not that many people did is this notion that we are supposed to say it is not that big of a deal. it is a big deal. stuart: how about snowden screwing his thumb into our eye? it is not funny. >> given he is 30, not a hacker, and you can't really scramble u.s. jets over russia.

stuart: he did say that, didn't he? >> that is the thing. charles: think about great decision-makers, you have a choice. scramble jets or do nothing, that is it, those of the two options. stuart: moving on, obama. the climate change speech. how did you take that? >> too boring to be funny. look, i believe climate change is real, but the funny part about this story to me was the national journal had a piece about a memo being circulated among environment plus activists that say what terms to use when talking about climate change and always tell him don't discuss cost, pivot away from jobs, things like don't debate the increase in electricity rates.

every one of these things they know they're losing the argument economically and they know greenhouse gas emissions have been declining for the last 10 or 15 years. the never wants to talk about that stuff, really want to talk about themselves. stuart: we have not taken any cars off the road or planted a single tree. >> a time you want to take a hit on fossil fuels. they are opposed to it. stuart: you are going to sit with us, d to kind of a halftime report. we have an investor coming up. one of the great columnists of america.

you are going to sit there and listen to what they have to say and are you going to make jokes about him? >> i would never do that. stuart: the obama administration losing credibility by the day. scandals here at home, diplomatic crises over there. simple question, has the country lost its standing in the world? ambassador john bolton is up next. in today's markets, a locan happen in a second. with fidelity's guaranteed one-cond trade execution, we route your order to up to 75 rket centers

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stuart: and american boss held hostage by chinese workers for nearly a week has been freed. release after reaching an agreement with labor representatives in a pay dispute. being held hostage after workers demanded severance packages identical to those offered to other employees recently laid off. due back to arrive in america this evening. no response or reaction, or do you? >> this is an option, we can do this?

why has nobody ever told me? i didn't know we could do this. i understand now the hea. stuart: time for market check. fantastic stuff, up 134 points the dow jones industrial average. ambassador does not think much to this rally. let's get to nicole because we have conagra foods making chef ird. did you know that? why is the stock up so much? nicole: it is up 5 and .5%, up on the s&p 500. they came up with profit that beat the street in recent acquisitions. giving it a better-than-expected outlook.

stuart: up 5% on that news, not bad at all. still 134 points. edward snowden, we do not know where he is. so here's the question, has president obama lost his effectiveness around the world? if you cannot find the guy, are you still effective? >> people are not following president obama's leadership on just about anything. he lost his effectiveness worldwide. stuart: strong stuff. ambassador john bolton joins us. our standing is less now that was when george w. bush was in the white house and you say? >> i think that is right. they have recognize the president doesn't pay much attention to form policy, does not understand international politics. he is residing over strength of influence and he is perfectly happy with that so in the

snowden thing, why aren't the chinese and russians looking to us? i don't think the president has exerted himself to make it here how serious this is. neither country fears a consequence. stuart: do you think american voters want america to exert pressure and strength around the world? don't they want us to retreat? >> voters want america's interests defended because they understand in the kind of economy we live in, declining america leads to more instability in the world and a greater threat to the standard of living at home but i believe for four and half years the absence of president obama explaining all this has led a lot of americans to think we have no problems in the world. obama is wrong misleading the voting population. we are on tv a lot.

stuart: he wants to get into this discussion, should we let him? >> what do you think we would do in a similar situation if we had someone of this level who was russian and russia wanted him back? >> if it was somebody like snowden and a lot of information i would presume we would do it russia is doing and get as much of that information as we could, that is because we would understand that he was a real target of opportunity. the fact is when you have somebody like that and the other side is taking the information, they have to feel pain as a consequence, whether they were descending back or not. with respect to china, with respect to russia there ought to be some kind of response and the president doesn't understand the offhand comment he made africa today we will not scramble the

jets, this is very serious business. this could be a worse week in our history. stuart: in the last 30 seconds the dow industrials have gained some more grounded during the break you were saying it is not for real. ambassador of united states to the united nations, you're passing judgment on the stock market now? >> we are very much at risk the fed and european banks stimulus programs have put so much money out there if the economy does pick up, if the velocity picks up given the quantity that is out there, the risk of inflation is extraordinarily high. stuart: you are a gold bug? >> i'm not a gold bug either. try to save the market to get ready. i will not say when, but you understand the punch bowl will not be out there forever.

they are falsely encouraging the market to keep going up. stuart: 31 minutes ago, that is what came out of a senior fed guy. maybe we won't step on the brakes, another fed government also said that month ago. >> it is like these people forget the late 1970s. the fed cannot predict with absolute certainty when the inflation wave will grow. the longer they wait, the worse it will be. charles: i don't think the fed should be involved. i wish there was no fed. they listened to people like the investor who is really intelligent but has never read anan income statement in his li. can you tell me the fair balance value? your argument is why everybody

watching the show missed the market, both gold and getting crushed right now. the stock market went up 100% aninthere waiting for the botto. stuart: it is a dow stock. all those people who bought dow index funds, they are now buying boeing with out by initial stock. charles: should it be lower? >> the market goes up because they think that the fed will keep buying. charles: great economic news out today. stuart: kelly all just agree that we love that the dow is up. charles: i do not want to be around when it drops 1000 points.

stuart: we will be back. believe me. ♪

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>> i think it will happen. there is a huge formation that contains about two thirds of the oil reserves. that amounts to about $2.8 billion by 2020. stuart: we know the numbers. you know as well as i do that as soon as the government said, let's get out there and frack, the environmentalists will sue. >> i think it will happen. it's just too big not to do. stuart: they will kill any decision, you know it. >> all but one of the bills in the legislature this year died.

the governor himself has said this is a terrific opportunity. californians really do not fear this. stuart: are you kidding me? they do not fear fracking and oil drilling. what? >> we have been drilling oil since the civil war out here. california got it right. stuart: you are on videotape saying that. i hope you are right. thank you very much for being with us. you have anything to say about fracking?

>> no. i think you raise a good point, though. stuart: they wrap up the markets. the dow is up nearly 160 points. this is a rally. you'd never think that you would hear this. nancy pelosi booed by the left. are the extreme leftists taking over? find out next. >> we have to pass the bill so you can find out what is in it. away from the fog of the controversy. ,7 f1 u've known? we gave people a sticker and had them show us. we learned a lot of us have known someone

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♪ charles: initial jobless claims out this morning. the number of people applying for jobless benefits fell. now to the housing market. the latest read on the 30 year mortgage is up 36%. yahoo! ceo melissa meyer, marissa mayer, benefiting a

charity. the bidding closes today. get online if you want that. queen elizabeth just got a 5% raise. the queen marked 50 years on the throne this year. our democrats taking the left? not a trick question. is that possible? the local

stuart: another sponsor has dropped paula deen. the maker of the diabetes drug that she endorsed. she came under intense criticism for endorsing the diabetes drug after her diabetes diagnosis came to light. now she has been dropped by them. >> a company that never should have employed her just dropped her. i am okay with that. stuart: ishii finished? >> last friday she apologized. this is the first time a company has dropped her when she has not actually been on tv saying something. maybe it is progress. i do not know. stuart: nancy pelosi booed at a convention when she said that

edward snowden broke laws and the government needed to strike a balance. i cannot believe she was booed. >> she was booed. they screamed at her. they said leave her alone. you lie and worse. we will not repeat it on the program. whether the democratic party is soft on national security. i think nancy pelosi, who is from san francisco, remembers the days san francisco democrat. this dog them all the way through the 1970s. took 49 states. you have to put that in the context. barack obama has seemed under

ambivalent. i think the democrats are getting into a position on national security that could be a liability for them in the next four years. stuart: doesn't america want -- i hate to say the average voter, but the democratic voter that turned out in such numbers in 2012, they want an activist government at home and a retreat from responsibility overseas. >> that is what the democratic party wants. i think that runs a risk, if the world is shaking in many places, if something blows up in the

world, it will imperil the democrat candidate in 2016. i am talking hillary clinton. charles: the death toll there has gone through the roof. how would the american republic react to that? >> i think of iraq itself imploded, it would not become that much of an issue. stuart: will they blame president obama? >> i think they will. i think that is the reason bill clinton said he thought barack obama needed to do more about

serial. what he was worried about was a democratic president failing on the issues when his wife is standing in the wings to be the nominee in 2016. he does not want her to carry that burden into the election. stuart: the left has indeed taken the democratic party. ttat is not necessarily a recipe for failure in the next election. hold on a second-- >> i do not know if you can paint this like 1972. i think we are seeing that right now. >> i think the opposition on the right from the libertarians represent a faction within the republican party.

it is their position. i think they are the ones that run a much more bigger risk. politically vulnerable on security issues if the world becomes much more dangerous, stuart, then it is right now. that will not hold true if the world blows up. stuart: thank you very much indeed, sir. guess what, the same man made millions off another pipeline. the dow is up 150. ♪ 'one size fits all'. it doesn't. that's crazy. we're all totally different. ishares core. etf building blocks for your personalized portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares bylackrock.

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>> coming up on lou dobbs tonight. the immigration bill will save us hundreds of billions of dollars. oh, no it won't. it will cost us and cost us big. join us tonight at 7:00 p.m. eastern. ♪ melissa: a billionaire hedge fund manager. he is against building the keystone pipeline. this man has made millions of dollars off of another pipeline

that will transport the same dirty oil that canada does. >> i think that there is an even bigger guy we can toss into the equation. warren buffet. the railroads are making so much money transporting oil. it is all tied in. the idea that somehow only the republicans are in bed with big business is not. it is crazy. we have seen taxpayer dollars. >> i completely agree. i am completely opposed to cry capitalism, but i want to be a crony capitalists.

charles: you have to sit out with a billion. [ laughter ] stuart: thank you very much. i am trying to do the math here. since tuesday afternoon, the dow has gone up 400 points. 250 the last couple days. 400 points up. stay there. there is a whole additional hour of varney and company at 11:00 o'clock. meredith whitney is with us just a few minutes from now. ♪

stuart: it is that time when we rolled a highlight reel, please. speak with ours was interesting when the president said he would not go after the hacker. you cannot scramble u.s. jets over russia, so thanks for president obama.

>> i do not like the combination of sugar and caffeine. stuart: then don't drink it, or have mom and dad say to the kids don't drinkmg1 it. >> your argument is why every watching the show bought gold and is getting crushed right now, gold is down 30%, the stock market is up 100% and they're waiting for the bottom, waiting for the crash. >> putin used t to run the kgb. who is going to do a better job of finding somebody? stuart: this is now, the bonus hour of "varney & company" and we have this. meredith whitney is here for an extended visit. the voice on municipal bonds. what happens to cities and states with rates rising as they are now? police collecting data on your car, scanning a license plate as

you drive by. how does judge napolitano feel about that? and are worse things the government does then what edward snowden told us. and 28 nfl players arrested since the super bowl. does the nfl pick any kind of hit? our branding guy weighs in. here comes our third hour. ♪ stuart: top of the news, yes, we had a great market rally. acting irs commissioner testifying on capitol hill before the house ways and means committee. we said we would monitor, and here they are. moments ago frequent "varney & company" guest. >> you are not conducting interviews, you don't know answers the key questions, yet

in report you declare there is no evidence of intentional wrongdoing or misconduct on the part of irs personnel. this report is a sham. stuart: there you have it. monica crowley is here this hour. she is a conservative, no friend of the irs. i'm going to unleash you for 30 seconds, go at them. monica are there any friends of the irs? an excellent point. this ministration the irs and corruption targeting a conservative groups, this is just the tip of the iceberg. just in the initial stages of this now. every time these guys are brought before congress they are taking the fifth, another person who took the fifth yesterday, or more lies to be exposed in terms of the sham report and so on. this is just the beginning.

the senate is looking into this as well, we're going to see in terms of who started the ordering of the targeting of conservative groups and how high it goes. i don't think it takes a brain surgeon to figure out they are ordering all of this coming out of this white house. stuart: one hour ago said all the interesting stuff about the irs but it is not getting through because establishment of media is not reporting. monica i agree with him to the fact the mainstream media is trying to bury this story. now they backed away from doing it. but remember, when you look at these poll numbers, almost everybody has been touched or is touched the irs. this is the most clinically toxic of all the scandals for the white house, upwards of 70% saying this needs to be investigated a lot more because they went after conservatives they can come after me. the irs is going to be the chief enforcement officer for

obamacare. obamacare starting october 21 and then january 1 every person in america has to prove to the irs may have government sanctioned health insurance and a couple of months. stuart: i think it was worth giving you two and a half minutes. monica i am on fire today. in the tone of immigration reform i am right there with you. stuart: just telling paul ryan he does not need a budget increase, is that correct? that is interesting because maybe the press, we have heard a couple of days ago he would ask for a billion dollars to go clean up the irs. intense pressure and outrage following that statement, now apparently he has backed off. paul ryan asked him. the other big story of the day,

the market, we have a solid rally here. some say it is all puffed up by fee money. look at the numbers, please. well above 15,000 again. we are going to on the market, good story, and look at who we have with us now. she will talk interest rates. welcome back. the rates have just gone straight up. it occurs to me that will put enormous pressure on municipal bond, the area where you really hit the headlines. >> it is communities that are reliant upon the issuance and extra dollars that bringing on debt has afforded to certain communities. the way state and local governments have managed basically creating a complete that balloon has been because the low rates have been able to keep very low thresholds of minimum payments like credit

cards, so all that have conditions are the minimum payment they ha have to make one interest they owe. they can balloon a lot more debt and incur a lot more debt while interest rates are low, but once interest rates start rising, they hit the debt cap. what that means is they have to make even more cuts to local services, community services, two things the taxpayers care about like schools, public safety, infrastructure, all those things that we think is a constitutional right and why we pay taxes. stuart: i think they were warned yesterday, you're going to get a downgrade because they did not have the pension plan in florida and are facing these higher rates. do you think we're looking at bankruptcy? flat out bankruptcy? >> you're looking at bankruptcy for some cities in california.

you're looking at bankruptcies throughout michigan. detroit the largest bankruptcy on record, we will decide if it is going bankrupt imminently. it sets a very scary precedence for other municipalities. they have not wanted to jeopardize their own, but look, the states have cut off so much might be local governments now there is nowhere else to play gimmicks because the municipalities don't have money for they will have to go bankrupt. i think you are going to see more of these. what is worse is the states cut even more with rising interest rates and it gets a lot worse for you and me, john and jane taxpayer. stuart: we have gone from under 2% long-term rates, now 2.5%. you think we rise from here, or because of what is happening in the marketplace will ben come in

and print again? >> he sends the deputy governors or governors out the petal back on what he had said. can't last forever, what they want to do is have the rates rise in an orderly fashion but they're too scared to allow that to happen. we hubris was and never were going to be able to control it, so they played chicken way too long and now you have rates they can't control. stuart: tesla, i'm going to call it the stock of the day because speculation of a takeover, go ahead, nicole. nicole: we talked about it, automakers interested in having electric vehicles. jumping up 3%, and nice run, wrote through 100.

working on bringing the prices down and move the sales up over the next couple of years. stuart: high anxiety time, isn't it? you can always say that about the market but it seems it is intense at the moment, do you agree? >> it is intense for people deluded into thinking free market would last forever and you could maintain a bubble. for me high anxiety time, we talked about this before. there is a very stable growth engine underpinning the u.s. economy, but the old economy is volatile because people have been propping it up for too long. the stable growth is keep energy attracting manufacturing back to this country and real job creation happening in the central border of this country. high structural unemployment barely budging. new york is a great example has been propped up and basically bailed out by washington, d.c.,

and that's not sustainable. for people who thought they could gimmick the american taxpayer or investor, we are getting a rude awakening. if you kind of did your homework and thought a day's work would end up the way it traditionally has, you are okay. the volatility is a market repricing. asset prices are mispriced because unprecedented period of time. stuart: so we're going to get the energy, which is ours. and it will bailout obama's economic policies. >> everybody is on pins and needles for what he will authorize the keystone pipeline and create jobs. lot of things to help this economy, i just wish somebody would go ahead and do it.

stuart: the edward snowden plot is thickening. is he or isn't he at the moscow airport? we are reading this another black eye for america. it seems like america is getting more and more of a black eye. we're being laughed at. >> i thought the very beginning a couple of days ago we got this report that he was supposedly in the transit area moscow airport, but instantly this had to be a decoy. the point is this administration has laid down the law through john kerry secretary of the state, people sent the signal to chinese and to turn over this guy, he has committed high crimes against united states creation, essentially. the russian and chinese are running circles around us. stuart: the president said he will not scramble a couple of jets intercept him.

next time you speed pass a car, think of this, police tracking information by scanning her license plate as you zoom on by. don't think the judge will be too happy about that. we will find out because he is next.

stuart: larry levin is in chicago reveling in his rally. it is all about the fed and whether or not they keep on printing, odds are they keep on printing. is that a correct summary? >> it seems that way to me, stuart. if the fed keeps buying bonds and doing what they have been doing every single month for the longest time, had to keep buying the market. he wants to sell the market in a big way, but i am not so sure they want to get out of the way soon. stuart: are you one of those who think there's no way ben will stop printing soon?

>> we all know that is not going toohappen. ben have to keep doing it. it is just kind of the way we have set ourselves up and there is no getting out of it right now. stuart: if the president replaces ben bernanke, they keep printing, you are convinced of that? >> i am sure. that is the way it is going to be. stuart: thank you very much, indeed. what happens when this comes to an end? >> i think it is how we come to at anan end. but it's interesting to me is how it didn't affect the market leading the fed policy, not the fed policy leading the market.

charles: this is where i think ben bernanke makes a gigantic mistake, appeasing the market. we will add more, forget about it. if the coast is clear, the coast is clear. it did not move, did not help the bond market at all when greenspan waited too long and took the tiny business points, there was panic and fear. by the same token it is like to your point earlier, everybody knows it will come to an end at some point, so why doesn't the fed just taken for this thing is to the flooding the market push them around? >> i went to the fed governors kansas city fed governors annual event. he is not going. that will be very interesting for who takes a leadership role.

she is a think the consensus opinion is we will get that, that is a mini strategy, but the idea is at least they passed the buck, it is dual mandate limiting even though it is so overarching, we need strong structural and fiscal policy, we can't just all be monetary policy. and it seems everybody is passing the buck. to the extent you have rates going higher and the pains are under a capital duress number making them raise capital again. i think we're in dangerous territory. stuart: i want to get more on that, the banks and what is happening to them. i'm going to bring in the judge

for a second. another example of big brother watching you. please in california using a @icense plate tracker to keep tabs on people collecting data as they drive by by the thousands. all rise because he is here. >> did they get this crazy idea from downtown london of all places? stuart: they pointed at the front window, every car gets scanned, pops up with the information. what possible objection would you have to this? >> because the fourth amendment prohibits dragnet and gather information of people without articulable suspicion about the people from whom it is being gathered. and the government take a picture of you in the street? yes. can i use that to acquire further information about you? only if they have a legitimate

reason to do so and if law enforcement has an articulable suspicion about you. a fourth amendment to prevent us from ever becoming eastermany. it is a pretty valid argument when you look at what edward snowden has revealed from the past three weeks. if you like a society government can research anything wants about anybody for any reason without having to follow the constitution, that is what is coming here. stuart: in the car goes by, not speeding, nothing wrong, the cops should not be able to read that license plate? >> correct. the cops should not be allowed

to waste taxpayer dollars, taxpayer time and law enforcement resources photographing the license plate unless there is some suspicion that they can articulate about the driver in the car. short of that, there will be nothing to stop them from looking under every refrigerator and every bedpost that they want. stuart: are we done? >> i know you're talking with the fed and all that, this did start in london, my dear friend. stuart: and nothing was done about it. nothing will happen. >> the fourth amendment still applies in california and you guys don't have one in london. stuart: all right, judge, you made your point. we are listening. don't worry, the company is

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stuart: the market is not as high as it was. remember when we used to follow apple's rise at $700 beyond?

down again today, below 400. nicole: below 400. 397 and change. one of the analyst jumping on board cut in the target from 480, they cut it to 440. it is below 400. stuart: in an upmarket with the dow up 3 quarters of 1% we have apple down below 400. interesting. charles now with a look at winnebago. charles: the reported this morning phenomenal, phenomenal numbers but the bottom line was only in line. the talk about investing an in a company moving in the right direction. they got it going. i want to talk about their backlog. their class a, the backlog is

up 192%. the class a diesels, when you do it, you have to do the class a diesel. i can see you in that right now. lot of resistance, but the next level o on the stock takes it up to $30. i like this one a lot. this is like 36, $37 stock. lots of room to the upside. i have subscribers in it, i'm looking at the trend here. this into the theory of middle america iowa-based company manufacturing, exactly what she is talking about in her book. i think it is going to do extremely well. it goes up to $365,000. >> plus the add-ons over $2 million. stuart: this is a winnebago. >> you are not an every man if

you can afford a winnebago. stuart: i did not know that. charles: i know you're going to start with the $360,000 get the add-ons. stuart: now this. general motors spending $691 million to expand production in mexico. here is part of my take on that. general motors will spend $690 million expanding production in mexico. here is my take on that. taxpayers will not be happy. we're still owed $20 billion from the gm bailout. the union is definitely not happy. the uaw doesn't like to see manufacturing jobs exported cellsouth of the border. but look at this from gm's point of view. they want to slip the government lease. they don't like to be government motors. politicians pull them back.

they want to make money, they want to be more efficient. they have to deal with the pay scales imposed by the fossilized bureaucracy. that was in the 9:00 hour, but monica is with us now, i want her opinion. they could have invested $700 million in a union state, in the upper midwest, they could have done that. or they could have gone to mexico, a third option. they could have gone to north carolina, a right-to-work state. but they didn't. monica: you are surprised by this? stuart: no. monica: one outrage after another in the obama administration. you look at this and say sending jobs to mexico after we asked the taxpayers subsidize the entire auto industry.

stuart: the best way for me to get my taxpayer money back is for general motors to make money. nicole: the whole argument for bailing out general motors was because it was a classic american iconic company and we have to preserve industrial base to fork over tens of billions of dollars in order to save american jobs. that is the rationale for the bailout and nasa much about american jobs anymore, it is mexican jobs. all these jobs happening overseas rather than here at home. stuart: you want toopass judgment on paula deen? somebody else did. the hit keep on coming. target announced they will be cutting their ties with the chef. target cells cookware, not anymore. they will be no impact on the stock price.

but that is another sponsor dropping paula deen. do you have any comment whatsoever? charles: i don't know the details on all this stuff, i met polity and about three or four years ago and i never watch on tv. she ran to me and give the most impressive hug. i don't know the details. no people were upset and i hate racism, but i think at some point it gets to be a little bit of piling on. i think she will bounce back. i don't know. stuart: you were talking about banking problems as interest rates rise. spell it out for me. >> banks are in the area that don't have a lot of demand. in order to get any yield they can, to have piled bonds on their balance sheet to squeeze out whatever margin they can make on that. the problem of course is when the rate goes up, the prices

worked the opposite way, the prices go down. accounting requires banks to record the loss on unrealized gain. in simple words that means the bank assets are worth less than they were when they bought them and so the capital ratio gets affected, and banks are clearly under enormous pressure to keep the capital ratio high. if a certain bank has too much of a right down, they will have to raise capital and starts the process again. stuart: thank you very much for joining us on this extended program, thank you very much. much more on the irs hearing happening right now in washington. more fireworks that took place, after this. friday night, buddy.

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>> now, mr. brady asked questions earlier and said he disagreed with the characterization engaged in a cover-up. stuart: a few moments ago fireworks at the irs hearing. reports today servicing democrats trying to use today's hearing to attack the inspector general report as bias. david asman is here. the democrats are going to say the irs targeted liberal groups as well as conservative groups, therefore the targeting criticism is not valid. you are going to debunk that. >> there is a cover-up going on of the inspector general's report. inspector general's report was very clear once again because he went through the details like nobody else had, he said while the team of specialist reviewed

applications from a variety of organizations, we determined that all cases with tea party, patriots or 9-12 in the names were forwarded the team of specialists. specific effort, concerted effort to cripple a political movement that threatened the president's reelection. whether or not the president was involved or anybody outside the irs was involved, we don't know. but we do know the targeted conservative groups. they have been to whitewash thex reports with the phony story ;oçiçóix new irs documents prove they were progressive organizations, occupy organizations, also targeted. totally phony. we have gone through these reports that the democrats have put out to the press, the press did not even bother to read them, they just published this report thinking they were

validating the progressives and liberals, they were not. in fact these new documents from the irs to everything to support the contention it was just tea party organizations targeted. stuart: i don't blame democrats for coming up with this line of reasoning. >> but it is absolutely not true. coming up with reports that do not prove the premise. now, by the way, there is some evidence they will attack the messenger, inspector general who everybody admired for the work you did about a month ago. he worked very hard in this report and totally independent inspector general. we are really finished, there is nobody to check what the administration and the organization is doing. stuart: the wider audience will not hear about this.

the democrats have an answer to the republican charges about the irs targeting conservatives. >> with a wider audience gets evidence he irs is targeting specific individuals for their political beliefs, i think they will stand up and protest. i think this is reuniting the tea party. ironically that movement the irs was targeting is being reinvigorated by this information. stuart: has "the new york times" stood by its article? >> very interesting you ask. now they are taking away the word "liberal" and say other organizations are targeted and it is true other organizations, anti-obamacare organizations were targeted, all of them were conservative.

stuart: before the hearing is the irs would demand another billion dollars to clean themselves up. paul ryan asked at the hearing today he still want that billion? he said we decided maybe we don't. that is a come back because of the pressure that would be on the irs. >> is a consummate democrat. even when he was being attacked he managed to say that is a very good question, harassment, i am glad you asked that, we're looking into it. we are evolving as the situation demands it. charles: sounds like the same people that prepped tim geithner. stuart: he is backing off the democrats by the way who were supporting him suggesting everybody was targeted. he is backing off so even he has

seen the evidence and how badly present the evidence was earlier in the week by media and the democrats. >> i am having fun. a fun story to cover, i tell you. stuart: john stossel, proud libertarian says he is fine with a little government snooping and to prove his point hit a list of things the government does that he says are worse than what snowden revealed. >> i'm not that worked up about it. i have a hundred things i am furious the government asks, it does not rise to the same level. with fidelity's guaranteed one-second trade execution, we route your order to up to 75 maet centers to look for the best possible price -- maybe even better than you expected. it's all part of our goal to execute your trade in one second. i'm derrick chan of fidelity investments. our one-second trade execution is one me innovative reason

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charles: the national average for a gallon of regular gas down from the past month. today up, that is huge. and yes, we're watching gold down yet again $1226 per ounce. talk about beefing up its menu by adding more items, power protein item features a chicken burrito. this should be added to menus across the country next year. more backlash for paula deen. the diabetes drug companies dropping the chef as a sponsor.

john stossel's up next with the nsa surveillance but says there are things the government does that our whole lot worse. next.

stuart: we were up 160, now we're up 120. why are we up so much? earlier this hour the federal reserve said any signal of a change in policy from bernanke was small meaning she is not going to stop printing like we thought he would. still, the market is up 123 points. quite a move on that. look at the dow. every single one of them on the upside, all of them green. charles, you're not going to complain, are you? charles: nicole started talking about conagra. slim jim's, peter pan. if you had bought the stock in 1984 at $3, now it is $35.

anyone watching this show probably had chef boyardee back then, their savings to be so far ahead of inflation that would have to worry about social security running out of money. that is when trying to help people get to. the market can be gimmicky, can go up or down for a variety of reasons. would that change the fundamentals? no. dude i this making faces at me. >> compiled a list of things he did there just as bad if not worse than what edward snowden did. a long list. i want you to give me the top three items on that list that are worse. i know it is 100 less, but give

me the top three that are worse than what snowden did. >> 175,000 pages of federal alone law. stuart: are we talking about what snowden did? because what he did basically was an act of treason. he gave valuable information to our rivals and enemies. it is worse than that? i don't think so. >> i certainly do in terms of effect on our lives, the constant deficit spending. obamacare. all of that, this is one individual revealing something that probably most of the terrorists already assumed was happening. he hadn't given out any specific names putting anybody at risk as far as we know yet. i am not saying as we learn more this will prove to be more, but i actually got confused, thought you were talking about, what this is is worse than the nsa

spying. there's arguments to both sides for that. this is just insane government waste. stuart: government entanglement in our lives is far worse than the government collecting information from us. >> right, because client information they can do it more invasively, this doesn't seem to be all that invasive and people do want to kill us. >> i do agree with john stossel on most things. on this the challenges of balance even the founding fathers struggled with part of the founding documents. the question here is the nsa scandals coming into broader context, snooping on reporters, the irs scandals, the massive power there. the concern is while it might be legitimate looking for patterns,

you can make an argument for that, but what is the argument to say this government under whoever's president might use it against you. >> no argument. all governments abuse power. power tends to corrupt. i don't trust any government more, don't think obama is less trustworthy because they get bigger, they get worse and worse. it is dangerous. the irs is different, there's no defense for the irs spying. that was just logical abuse for there is a defense for the nsa spying. government is forced, millions of people can wreck their lives in petty ways. keep it, it is too late. stuart: is that the nature of your show on the fox business network's night? >> tonight we debate the nsa pros and cons.

stuart: versus extreme libertarianism? >> extreme libertarians are usually right. the name of the show is "stossel." we forget that, please. thank you. aaron hernandez charged with first-degree murder. the 28th nfl player arrested since the super bowl. big problem for football? what do you think? he will deal with it next. we learned a lot of us have known someone who's lived well into their 90s. and that's a great thing. but even though we're living longer, one thing that hasn't changed much is the official retirement age. ♪ the question is how do you make sure you have the money you need to enjoy all of these years.

♪

stuart: aaron hernandez charged with murder in the shooting death of a semi-pro football player.

the 28th nfl player to be arrested since the super bowl. doesn't that create an image problem for the league? he is a branding expert. football is king of the hill in america. i don't care how may people have been arrested oo what charges, in my opinion there is no way these arrests make any difference to nfl revenues, am i right or am i right? >> since you put it that way, of course you're right. in the short term it doesn't make any difference that you can have these cataclysmic events, the brand is destroyed or the brand is chipped away at. and that is what is happening here. football is having a lot of challenges are a lot of different levels. kids choosing to do other things, this is just one more thing that chips away at this icon of american football that connect parents and kids think twice.

stuart: if you were the branding guy employed by the nfl to set the brand straight, what would you do, what would you tell the nfl to do? >> iiwould do a hard-core grassroots effort. i would have the heroes, the people we love out in the community. now with a kid i was a miami dolphins fan. that has stayed with me meeting the people. the good guys have to get out, shake hands, kiss babies, show kids how to play, they have to become part of the community. they can't be a bunch of millionaires and homicidal maniacs. stuart: taught me about paula deen, two more sponsors today dropped her on top of those who dropped her in previous days, are you saying she is finished? >> i think she has ended her opportunity and this is why,

with these kind of things you are not necessarily branded by what you do, o your branded by w you deal with it and boy did she creete a textbook case of how not to fix rand issue. it hits hard and the way you respond is everything, she needed branding and she got bad advice or no advice. stuart: she came on very defensively in tears a couple of times, should she have come out less defensive and attacked a little bit? >> what she should have done first of all is not have an edited apology, and she should have shown what she was going to do to make the world better. no need to defend, move forward. i'm sorry, and made a mistake, here's what i'm going to do to improve it and repair the faith you have given to me. stuart: thank you very much. you get one more day with an

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act right now. call the number on your screen now! ♪ stuart: student loan rates set to double on monday if something gets done in washington between now and then. i do not care what interest rate you have to pay. i am saying in this day and age for many people college is not worth it. they jacked up the price where many people walk away from college with a massive debt, a degree they cannot use and stress. i do not care what you pay. is it worth it in the first place? that would be my calculation.

cheryl: i think you absolutely have to have a college education. i disagree with you. dennis: both of you are missing the bigger point. our federal government is now up to $11 trillion. it is the next big meltdown. stuart: i disagree with you, cheryl. cheryl: we still love each other. thank you, mr. varney. we have nicole cut back on the floor of the new york stock exchange. nicole: